Yet it was the basis for economic growth of every developed economy. From the US, Germany, Japan to China.
The only countries that have no protectionism and free markets are poor African ones that find themselves under the IMFs thumb. All of which have stagnating economies.
Jane Jacobs is another who writes very clearly on the role protecting home markets ply in development.
Anecdotally, Victorian Britain was full of indignant stories about Yankees stealing intellectual property. One of the reasons Dickens conducted his US tours was to try and plead the case for payment with folk who were pirating his work.
Again, I see no data that supports rapsey's claims, namely that
1. Protectionism resulted in greater economic growth for the US, Germany, Japan, and China.
The example of China is particularly egregious since it was China's economic liberalization reforms in the 1980s and 1990s, including opening up to foreign investment and lifting protectionist policies, that resulted in massive economic growth and massive poverty reduction.
2. There is a positive correlation between protectionism and development in African countries. This is ironic because protectionism is a major source of harm for African countries. From the introduction of [5]:
In recent years, as African governments and development advocates have stepped up their campaign to reform the trade policies of rich countries, the issue of agricultural protectionism has come to the forefront. This is a highly divisive issue, with rich countries resisting poor countries' demands for major changes... Critics highlight the hypocrisy of rich countries giving lip service to free trade while maintaining tariff barriers and paying subsidies to their farmers. Their argument that agricultural protectionism places an unfair burden on Africa is becoming a mainstream view.
There is a consensus among economists that protectionism has a negative effect on economic growth and economic welfare [1][2][3][4], so rapsey's extraordinary claim to the contrary requires extraordinary evidence. As Gregory Mankiw says [6], "Few propositions command as much consensus among professional economists as that open world trade increases economic growth and raises living standards."
Not lifting completely, just enough to facilitate economic growth. Importing anything in the US, EU or China is process full of protectionist policies and tariffs that you must overcome.
The proof is in the pudding. The right amount of protectionism has proven to work in every successfully developed country. There are NO exceptions.
> "Few propositions command as much consensus among professional economists as that open world trade increases economic growth and raises living standards."
Economics would not be the first field with a popular theory that is complete nonsense that whenever tried has only resulted in catastrophe. Because it only works well in mathematical models instead of the read world.
Funny how all those economists have not convinced a single developed country to believe their theories and put them into practice.
Yet it was the basis for economic growth of every developed economy. From the US, Germany, Japan to China.
The only countries that have no protectionism and free markets are poor African ones that find themselves under the IMFs thumb. All of which have stagnating economies.